Gold futures drop as Fed bond purchasing scaledown remains on the table

Gold futures on the COMEX division of the New York Mercantile Exchange dropped sharply Thursday after the U.S. Federal Reserve kept the scaledown of its monthly bond purchasing scheme on the table.The most active gold contract for December delivery lost 25.6 U. S. dollars, or 1.9 percent, to settle at 1,323.7 dollars per ounce.